About the Today Trend Signal Indicator
The Today Trend Signal indicator is designed for traders who want a simple and time-efficient trading approach.
It analyzes market conditions at the start of each trading day and generates a single directional signal based on its internal calculations.
Once the daily analysis is complete, the indicator plots either a blue arrow for a buy signal or a red arrow for a sell signal directly on the chart.
No additional signals appear during the same day, allowing traders to focus on one clear setup without constant monitoring.
The Today Trend Signal indicator works well for traders with limited screen time who prefer a straightforward decision-making process.
By delivering one signal per day, it removes noise and encourages disciplined trading based on daily market bias.
Free Download
Download the “today-trend.mq4” MT4 indicator
Key Features
- Generates only one trading signal per day.
- Uses arrow markers to display buy and sell signals.
- Helps reduce overtrading and chart noise.
- Works well for traders with limited trading time.
- Compatible with all major currency pairs.
Indicator Chart
The chart shows the Today Trend Signal indicator with directional arrows plotted at the start of the trading day.
Blue arrows highlight buy opportunities, while red arrows mark sell opportunities based on the day’s trend assessment.
Guide to Trade with Today’s Trend Signal Indicator
Buy Rules
- Check the chart at the start of the trading day.
- Enter a buy trade when a blue arrow appears.
- Open only one position for the day.
- Hold the trade according to your predefined exit plan.
Sell Rules
- Check the chart at the start of the trading day.
- Enter a sell trade when a red arrow appears.
- Open only one position for the day.
- Hold the trade according to your predefined exit plan.
Stop Loss
- Place the stop loss beyond the nearest intraday support or resistance zone.
- Use a fixed pip stop aligned with the average daily range.
- Position the stop outside the early session volatility.
- Reduce exposure once price moves decisively in your favor.
Take Profit
- Use the default take profit setting or adjust it to your target.
- Base profit targets on recent daily price movement.
- Close partial profits if momentum slows.
- Exit the trade before the next trading day begins.
Today Trend Signal and Alligator MT4 Forex Strategy
This strategy combines the Today Trend Signal MT4 Indicator with the Alligator MT4 Indicator to help traders capture high-probability trades with minimal time commitment.
The Today Trend Signal indicator gives a single clear trading signal at the start of the day, represented by a blue arrow for buy and a red arrow for sell.
The Alligator indicator is used to confirm the trend direction and filter trades, reducing the risk of false entries.
This strategy is ideal for traders who have limited time to monitor the markets, including day traders and swing traders.
It works best on major currency pairs such as EURUSD, GBPUSD, USDJPY, and AUDUSD, using 30-minute, 1-hour, or 4-hour charts.
Buy Entry Rules
- Today’s Trend Signal gives a blue arrow, indicating a buy signal for the day.
- Alligator indicator confirms an uptrend: the jaw, teeth, and lips are aligned in ascending order.
- Enter a buy trade after price confirms support above the Alligator’s teeth line.
- Place a stop loss below the Alligator’s jaw line or the recent swing low.
- Set take profit at the next significant resistance level or 1.5–2 times the risk.
Sell Entry Rules
- Today’s Trend Signal gives a red arrow, indicating a sell signal for the day.
- Alligator indicator confirms a downtrend: the jaw, teeth, and lips are aligned in descending order.
- Enter a sell trade after price confirms resistance below the Alligator’s teeth line.
- Place a stop loss above the Alligator’s jaw line or the recent swing high.
- Set take profit at the next significant support level or 1.5–2 times the risk.
Advantages
- Requires minimal monitoring, perfect for traders with limited time.
- Combines a daily trend signal with Alligator trend confirmation for reliable entries.
- Works well on multiple time frames, making it flexible for day or swing trading.
- Clear rules reduce the risk of emotional or impulsive trades.
Drawbacks
- Only one signal per day, limiting trading opportunities.
- Not suitable for traders seeking multiple intraday trades.
Case Study 1 – EURUSD
On the EURUSD H1 chart, the Today Trend Signal showed a blue arrow at 09:00 GMT, indicating a buy for the day.
The Alligator indicator confirmed an uptrend with the jaw, teeth, and lips aligned upwards.
A buy trade was entered at 1.1055, stop loss at 1.1025, and take profit at 1.1130.
The trade captured 75 pips over the day.
Case Study 2 – USDJPY
On the USDJPY H4 chart, the Today Trend Signal gave a red arrow at the start of the trading day, indicating a sell.
The Alligator confirmed a downtrend, with all lines pointing downward.
A sell trade was entered at 146.20, stop loss at 146.70, and take profit at 145.30.
The trade captured 90 pips over the day.
Strategy Tips
- Always confirm the Today Trend Signal with the Alligator trend alignment to filter out weak signals.
- Use this strategy on major currency pairs for more reliable trend behavior.
- Adjust stop loss based on the recent swing points to protect against false breakouts.
- Consider higher time frame trends to reinforce the direction of the daily signal.
- Be patient and only take the signal once the price confirms the Alligator trend direction.
- Limit risk to 1–2% per trade and avoid trading during major news events for better results.
Download Now
Download the “today-trend.mq4” Metatrader 4 indicator
FAQ
How many signals does the indicator generate each day?
The indicator generates only one signal per trading day, either buy or sell.
When should the chart be checked?
The chart should be checked at the beginning of the trading day when the signal is plotted.
Can the take profit value be changed?
Yes, the default take profit setting can be adjusted from the indicator inputs.
Is this indicator suitable for active intraday trading?
No, it works best for traders who prefer a single daily decision rather than frequent entries.
Summary
The Today Trend Signal indicator offers a focused approach to daily trading by delivering one clear directional signal at the start of each session.
This design helps traders avoid constant chart watching and unnecessary trade decisions.
Its simplicity makes it ideal for traders who value consistency and time efficiency.
By limiting signals to one per day, the indicator encourages discipline and a structured daily trading routine.
